Lux Investing
how can i learn to invest money?
i don't have a lot of money, but i eventually want to start to find different avenues in which to grow my money rather than savings account or cd's. are there any good books or websites that offer good insight on my financial goals.
Public Comments
- Adam "Pacman" Jones put out a nice dvd. He got the name Pacman because he gobbled up lots of dollars. I believe it's called "Making it Rain"
- "Investing For Dummies" is an excellent starter book - very easy to read.
- I suggest "The total Money Makeover" by Dave Ramsey as a good start. Then, just keep reading every non-fiction book about money and investing that you can get your hands on.
- You can use fake money to play with the stocks. I use http://www.top10traders.com/ It is a "fantasy" site where you get $ 100,000. to create a portfolio of stocks, funds, ETF's...and compare your results daily with 2700 other traders. Use it to view the other portfolios and see where and how the best traders are making their gains. Use the options available, like watchlists and comment board. All information gained can be helpful in making or changing your choice in real investments. This way you can learn how to do investments without even risking your own cash.
- "Rich Dad ,Poor Dad" By, Robert Kayosaki
- There are many sites on the web where you can pretend to invest money, and track it daily. The investing is `Pretend` but the companies are real companies - so altho your profits and losses are only phantom - You are seeing how you would have got on had you been investing real money. I`m sorry I haven`t one of these sites at hand - but there are so many, just search for them.
- The best suggestion I can make is to simply google just that. Type in "Financial Advice" or something along those lines and see what you can manage to stumble across. Another good idea is to go into a bank and sit down with a financial adviser or councilor and see if there's something you can do. There's so many things to invest in, and so many ideas out there; the hard part is picking the one, or few that appear to be most profitable. Unfortunately, not having a base line of money to start investing is a pretty key ingredient. A lot of the time you'll have to lose money to make money, which is what holds so many people back. So a savings plan should be in order if that be the case, which could take some time; but it's something to look into. ------------------ I'm being coached in financial secrets at http://www.MakingMoneyWithMav.com. Are you?
- Read the newspaper use simulators to practice and watch bnn (no i don't work for BNN)
- http://simulator.investopedia.com/?viewed=1 investopedia.com is a wonderful place to start. They have PLENTY of resources aimed at the average joe who is just starting out. The link I posted is a stimulator- not the actual- stock market. You can try out there.
